RSPA has build a Cannabis Community that helps members meet, network and team to help providers foster business development, business insights, and share experiences. As the indusrty is growing each day and business needs are changing it is more important than ever to build relationships, and partnerships with like minded professions to help expand your offerings and services to businesses. RSPA has done a fantastic job of fostering these relations and building a great community of members. Watch and learn more about the importance of community groups and partnerships.
With record wildfires on the West Coast causing significant set backs to outdoor growth, many harvesters are facing challenges with their crops. These challenges range from the health and safety of employees, loss of light to the plant from smoke, potential toxins in the plants, and so much more. Major concerns about what the smoke contains, including heavy metals or other toxins can cause buds to get tainted by airborne toxins like pesticides, ash, fire retardant, building materials, and more. When these toxins enter the plant and the plant is sent to testing, testing results are showing arsenic making the plant unusable and potentially harmful for consumers. With so many growers facing these problems many are seeking out other alternatives such as indoor grow operations, opening huge opportunities for technology, HVAC systems, and more. Watch as Luis and Harry chat about the opportunities the fires are causing.
With medical and recreational cannabis expected to reach into the billions by 2023, and the ever changing landscape unique risks for cannabis businesses are popping up every day. With many businesses just starting out and finances being stretched thin, business insurance can fill in the gaps to make sure both your personal assets and your business assets are fully protected from unexpected disasters. Although cannabis is not legal in all states there are still many insurance companies who insure all aspects of the industry including cultivation, production, dispensing and sales of cannabis. Scott joins 420MSP to discuss different insurance options and tips for looking for insurance.
In states where marijuana has been legalized, marijuana tax revenue is often channeled toward education in the form of funds. Although, most states have allocated tax revenue from cannabis to education, Colorado has taken this to the next level. In Colorado tax revenue collected from the sales of cannabis is deposited into two different funds, the Building Excellent Schools Today Fund (BEST), and the Marijuana tax revenue cash fund. The BEST fund is to be used to renew or replace deteriorating public schools and has been approved to receive the first $40 million in excise tax revenue from cannabis. In 20-21 the BEST funds were awarded to 36 projects with a total construction cost of $234,957,051. Watch Harry and Blake as they chat about cannabis taxes.
With the Cannabis industry being relatively new, and changing daily it is not surprising that many sales associates don’t know a lot about the products they are selling. Many dispensaries spend months building their inventory and bringing in a ton of different products which they are excited to share with employees and customers, however, retail associates are falling short in providing customers the most accurate information about the products they are selling. With many uneducated associates businesses are struggling to build trust and connections with customers that can endure beyond a single purchase. Ryan Porter CEO of Toptender has developed a training and education platform built to engage the cannabis industry. Watch as Ryan shows Harry the ins and outs of the platform.
There are many different ways to grow marijuana in a variety of environments. Louisiana is a great example of this as it has a vast range of terrains from bayous and brackish water to hilly terrain with lakes and rivers, and even some valleys and flatlands. With all of these different environments, Louisiana is testing out growing different strains in different areas, and what grows best. With these different environments there will be a lot of trial and error, however, growing marijuana in Louisiana will still requires a lot knowledge of different methods as well as a properly planned growing setup. Watch as Harry and Chuck explore environmental effects in grows.
Canada hit the two year mark of the government regulating recreational cannabis, with many highs and lows over the years. Although, Canada has hit the two year mark customers are still getting their cannabis from the black market. In recent surveys it was predicted that only 21% of cannabis is purchased legally, showing Canada still has a lot of ground to cover. Watch as we go over the highs and lows of the past two years, and how the US can learn from Canada.
With the pandemic in full force digital transformation (the process of using technology to make day to day business processes easier, faster, and more profitable) is becoming more and more prevalent in the cannabis industry. With so many changes being thrust on to companies not only with changing technology, but also with restrictions from the pandemic, it is more important now than ever for businesses to engage in digital transformation, as customers expect their experience with businesses to be seamless with at least as much technology as they have in their personal lives. Watch as Harry and Josh chat about what digital transformations are the most important, and how you can easily implement them into your clients businesses.
With voting right around the corner many New Jersey residents are wondering if the bill will pass to legalize marijuana? If approved it is estimated that the recreational marijuana industry would reach between $850 to $950 million in sales by the year 2024 because of the dense populations, as well as being bordered by states that have not legalized marijuana, New York and Pennsylvania. Although, recent polling indicates that the proposal has strong support among New Jersey voters, we will have to see what the final verdict is. Join Harry, Tara and Assemblyman Joe Danielsen as they talk about how the bill was created, and what we can expect to see in the future.
Illinois is looking at new processes for the recreational marijuana dispensary application process after claims of shutting out minority applicants. With 1,667 applicants for the 75 licenses twenty -one qualified with a perfect scores-meaning they tied for the permits. With so many permits not receiving perfect scores Illinois announced plans to provide applicants a supplemental deficiency notice detailing problems or missing material, enabling applicants lacking a perfect score to amend their application. Join Harry and Jim as they discuss more about the Illinois dispensary applications and what’s next.
It’s the second year in a row New York has abandoned legalizing marijuana for recreational use. Although, New York has not legalized the use of recreational marijuana, it’s not stopping New Yorkers from partaking. During the pandemic consumption has skyrocketed flooding the black market. Many New Yorkers rely on home delivery, however, that is becoming more difficult with the lock downs and new rules of people entering buildings. With the flood of consumption, many people are looking for new ways to consume from high quality eatables to speakeasy dining experiences. Watch as Kat and Harry explore the black markets in New York.
As more and more states approve cannabis for both legal and recreational use, and more marijuana dispensaries receive their business license, the focus on cannabis compliance with state and local officials has become more and more important. Most states regulations stipulate that every retailer must report data on sales transactions, returned products and disposal of returned or display cannabis. With the stakes being high for failing to report, selling to minors, or lack of security can put your licenses at risk. With states using different reporting systems and metrics, the question that comes into play is, is their one system that works for all of the states? Watch as Duane and Harry chat about different POS systems to help dispensaries stay in compliance while reporting.